Business Intelligence

Definition of Business Intelligence Hierarchical Category as it relates to Business, Business Economics

Business Intelligence is a technology-driven process for analyzing data and presenting actionable information to help corporate executives, business managers, and other end users make informed business decisions. It involves strategies and technologies used by enterprises for data analysis of business information, and can include a broad range of tools, applications, and methodologies that enable organizations to collect data from internal systems and external sources, prepare it for analysis, develop and run queries against the data, and create reports, dashboards and data visualizations. The information derived from these activities can be used to identify and develop new opportunities, implement effective strategies, and provide a competitive market advantage and long-term stability. Business economics is a related field, as it uses economic theory and quantitative methods to analyze business enterprises and the factors contributing to the diversity of organizational structures and the relationships of firms with labor, capital and product markets.

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